1505 Prairie Lake Blvd, Ocoee, FL 34761
3 beds · 2 baths · 1,350 sqft
Welcome home to 1505 Prairie Lake Boulevard! This 3 bedroom, 2 bathroom home is located in the highly sought after Forest Oaks Community. When you arrive at the home, you will immediately notice how it is located in the private cul-de-sac and has attractive curb appeal. Through the screened in front porch and the front door, you are welcomed into the oversized living and dining room. To the right of the living area is the breakfast nook and cozy kitchen. The kitchen overlooks the living area, making it feel very conversational. From the kitchen, you also have views into your screened-in back porch, and over-sized backyard. This space is ideal for family gatherings. To the left of the living room is the first bedroom. This room offers double doors and can serve as a bedroom, office or flex room. Past the first bedroom and at the end of the hallway is the second guest bedroom and the first full bathroom. This bedroom is spacious and offers convenient access to the bathroom. The bathroom has expansive counter space and a tub and shower combo. The owner's suite is the final bedroom in the hallway. It is expansive and lets in all of the natural light from the backyard! From the bedroom, you will continue into the owner's en-suite, which boasts a walk-in shower. This home is one you don't want to miss. This includes local restaurants, Winter Garden and Orlando. Call today to schedule your private tour!
Source: STELLAR #t3537932
Interest rate and monthly payment estimated based on public records.
Source: STELLAR #t3537932
Source: Public records
Assuming a mortgage can seem complex and unfamiliar. We simplify the process by providing white-glove support and expertise at every step.
Whether you have an agent or you’re just starting your search, reach out to us and we’ll help set up a home tour.
Roam works with you, your agent, and the listing agent to prepare a mortgage assumption agreement and finalize all details.
Roam coordinates all parts of the transaction and keeps all parties up to date to provide a seamless 45-day close.
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Get Notified” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
MLS ID: #t3537932
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.